Stop order execution - best broker?

Discussion in 'Order Execution' started by erlewine, Feb 22, 2006.

  1. Anyone know which brokers provide a decent automatic execution on stop orders (500-1000 shares at "triggered" market) and/or route stops into an ECN which immediately takes stock or hits bids when the order becomes eligible?

    Quite a few apparently (Eturd, etc...) still route to a market maker where the stop isn't eligible for auto-ex and is manually executed (usually with bad slippage).

    I'd prefer the "spray the market" approach, but if someone routes to a market maker that gives good automatics in thin markets that's fine too.
  2. GGSAE


    I can only comment on Cyber's and i can honestly say it's not the most reliable in shooting orders when the alerts are triggered.
  3. maxpi


    I had three trades with IB today that hit the stops but never triggered. It could have to do with the "Smart" routing or something. I probably will wind up using market data to trigger limit orders out of software and just have the stops reside on my system only. One less thing to think about. :)
  4. Bob111


    my stops at IB never triggered too or became active when it late,very late. i always put sound alarm on top of it and 95% of the time have to cancel stop and exit manually using regular limit order. MB trading stops was pretty good.